Russia Sets Crypto Reporting Rules as Holdings Hit $44B

Russia sets crypto reporting rules as holdings hit $44B

Russia says investors may bear losses from foreign stablecoin freezes as crypto holdings reach 3.7 trillion rubles under its new market rules.

Russia Says Crypto Investors Will Bear Losses if Foreign Issuers Freeze Their Assets

Russian cryptocurrency investors will have to “bear the losses” if foreign stablecoin issuers freeze their assets for reasons outside the control of Russian digital asset depositories, Deputy Finance Minister Ivan Chebeskov said as the country moves ahead with its new crypto market framework. The warning mainly concerns foreign-issued stablecoins such

Russia Sets Crypto Reporting Rules as Holdings Reach $44B

Russia has cautioned that investors could face losses if foreign stablecoin issuers freeze assets held beyond the control of Russian depositories. Officials estimate that residents currently hold around 3.7 trillion rubles, equivalent to roughly $44 billion, across crypto assets and related products. TASS reported that Deputy Finance Minister Ivan Chebeskov estimated Russia’s crypto user base […]

Russia Sets Crypto Tax Reporting Rules as Holdings Hit $44 Billion

TLDR Russia estimates about 20 million residents hold 3.7 trillion rubles, or roughly $44 billion, in crypto and related products. Daily crypto transactions in Russia total about 50 billion rubles, according to Deputy Finance Minister Ivan Chebeskov. Investors may have to absorb losses if foreign stablecoin issuers like Tether or Circle freeze their assets. Starting May 2, 2027, residents must report crypto activity on addresses outside Russia’…